My wife and I are hoping to acquire a home in Northop and have instructed a Northop conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. The Mortgage Works have this morning contacted us to advise us that there is now an issue as our Northop lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Northop lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We are aiming to move property in March. Will my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you put forward a removal company in Northop. Conveyancing firm was chosen prior to coming across this page.
On the day of completion you can pick up the house keys from the estate agent however this should only happen when the previous owners solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you will need to advise the removal company that you are ready to move in. As a matter of policy we do not suggest a particular removal organisation but can help you locate a conveyancing in Northop or a solicitor with expertise in conveyancing in Northop.
My fiancee and I are in the throws of viewing flats in Northop and I am now considering a potential offer. Is it wise to have a property lawyer on ‘stand by’? I am planning to take a home loan with Yorkshire BS.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Northop solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Northop postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Northop.
I have recentlyfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Northop for a purchase of a leasehold apartment 18 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Northop conveyancing specialists.
I'm purchasing a new build house in Northop with the aid of help to buy. The builders refused to reduce the price so I negotiated £7000 of additionals instead. The estate agent advised me not to tell my conveyancer about this side-deal as it could put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My wife and I are acquiring a first floor flat in Northop. When we first instructed property lawyer, they told us that they were on all major UK bank panels. Our mortgage broker contacted us just now to say that they are not on the Kent Reliance approved list. Were it to be true, what should we do? Do we just find a new property lawyer that is on their panel or should we pay for separate representation, with Kent Reliance appointing their own approved conveyancer.
When buying a property with mortgage finance it is standard for the purchaser’s lawyers to also act for the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to fulfill. Some lenders now insist their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should call Kent Reliance to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Kent Reliance's conveyancing panel and you may continue to use your own Northop solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another solicitor into the equation.